Tube Investments Share Price: How Are EVs, Semiconductors and Other Businesses Shaping Its Growth?
The shares of this mid cap company majorly engaged in manufacturing of a wide range of products for major industries such as Automotive, Railway, Construction, Mining and many more were in focus
With the market capitalization of Rs. 48,800 Crores, the shares of Tube Investments of India Ltd were trading at around Rs. 2,521 per share which is x per discount from its 52 week high of Rs. 3,335 per share and is trading at a P/E of 77.9 whereas industry P/E stands at 30.5
TII standalone and consolidated performance
At the standalone level, Tube Investments of India reported revenue of ₹2,366 crore, up from ₹2,007 crore. However, PBT stood at ₹213 crore compared with ₹222 crore in the same period.
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On a consolidated basis, which includes its subsidiaries and businesses such as CG Power, TII's overall performance was supported by its wider business portfolio. The revenue from operations stood at ₹6,215 crore in Q1 FY27, compared with ₹5,309 crore in Q1 FY26 FY25. Operating profit increased by Rs 2 Crores to Rs. 548 Crores from Rs. 546 Crores and net profit has decreased to Rs. 294 Crores from Rs. 303 Crores
Engineering division sees higher revenue, but margins moderate
The Engineering division, which includes precision tubes, CRSS and tubular components, reported revenue of ₹1,566 crore, up from ₹1,298 crore. However, PBIT remained at ₹153 crore, bringing the PBIT margin down to 10% from 12%. ROCE was broadly stable at 41% versus 42%, while free cash flow improved significantly from negative ₹33 crore to ₹140 crore. The division is also exploring opportunities in drilling, mining and stab bar products, adding potential new applications to its existing business.
EV business expands across multiple vehicle categories
The clean mobility business gives TII exposure to electric 3-wheelers, electric tractors, electric medium and heavy commercial vehicles and electric small commercial vehicles. Montra Electric has around 120 outlets covering 60% of the market, while the company has expanded its eSCV portfolio with the EVIATOR 350 (32 kWh) and EVIATOR 350L+ (50 kWh). This provides exposure across several EV segments rather than being concentrated in a single product category.
CG Power brings power and semiconductor exposure
CG Power adds two important businesses to TII's portfolio. It operates across transformers, reactors, switchgear, motors, drives and automation, with customers including PGCIL, NPCIL and NTPC. Its consolidated revenue increased to ₹3,281 crore from ₹2,878 crore, while PBIT rose to ₹426 crore from ₹366 crore and PAT to ₹308 crore from ₹267 crore. Separately, CG Semi entered the OSAT semiconductor business and commenced commercial production at its G1 facility in Sanand on July 4, 2026.
Other businesses show a mixed performance
The Metal Formed Products division reported revenue of ₹408 crore versus ₹366 crore, but PBIT declined to ₹28 crore from ₹37 crore, with margin falling to 7% from 10% and ROCE to 28% from 39%. Mobility revenue, covering cycles and fitness, increased to ₹250 crore from ₹198 crore, with PBIT rising to ₹9 crore from ₹7 crore. Industrial Chains revenue grew to ₹256 crore from ₹236 crore, while PBIT increased to ₹21 crore from ₹17 crore. In contrast, Shanthi Gears revenue declined to ₹115 crore from ₹135 crore, with PBIT falling to ₹14 crore from ₹31 crore and ROIC dropping to 17% from 49%
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Conclusion
The firm is slowly growing its growth drivers through moving beyond its established engineering business. The EV business has been increasing its footprint in a range of vehicle segments, and CG Power is creating exposure to power equipment and semiconductor business lines. In the meantime, increases in the top-line of the Engineering, Metal Formed Products, Mobility and Industrial Chains indicate that certain existing business lines are also generating growth.
These diversifications are enabling TII to create multiple growth channels for itself rather than depending on one business line. Despite weak profitability in certain segments like Shanthi Gears and Metal Formed Products, the growing power, EV, and semiconductor businesses will likely start playing an increasingly significant role in the company's performance.